CD Projekt Red has released a new tech demo that shows what the game could look like on the PS5, but the studio asserts it does not represent the final product.

The details:

During a State of Unreal livestream on Tuesday, CD Projekt Red presented a "technological showcase set in the world of Witcher 4" that ran live on a base PS5 at 60FPS with ray-tracing. The footage showed protagonist Ciri riding her horse, Kelpie, and eventually traveling to the city of Vargrest with various NPCs interacting with their surroundings.
Speaking on stage, the developers discussed the technologies used in Unreal Engine 5 to create the impressive and immersive visuals. This includes Nanite Foliage, which, according to Epic Games senior director Wyeth Johnson, enables high-quality scenery, as well as Unreal Chaos Flesh Solver, which provides unique and realistic animations and details for animals.
However, CDPR has confirmed that the tech demo is not representative of the final game, but rather a "showcase of the tools" that it is currently developing in collaboration with Epic. As a result, there will likely be differences in the final release since it is "still too early to confirm exact specs for every platform."

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CD Projekt Red releases new Witcher 4 tech demo, confirms it does not reflect the final release